Correlation Between The Hartford and Credit Suisse
Can any of the company-specific risk be diversified away by investing in both The Hartford and Credit Suisse at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining The Hartford and Credit Suisse into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between The Hartford Dividend and Credit Suisse Floating, you can compare the effects of market volatilities on The Hartford and Credit Suisse and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in The Hartford with a short position of Credit Suisse. Check out your portfolio center. Please also check ongoing floating volatility patterns of The Hartford and Credit Suisse.
Diversification Opportunities for The Hartford and Credit Suisse
-0.54 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between The and Credit is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Dividend and Credit Suisse Floating in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Credit Suisse Floating and The Hartford is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on The Hartford Dividend are associated (or correlated) with Credit Suisse. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Credit Suisse Floating has no effect on the direction of The Hartford i.e., The Hartford and Credit Suisse go up and down completely randomly.
Pair Corralation between The Hartford and Credit Suisse
If you would invest 3,315 in The Hartford Dividend on November 4, 2024 and sell it today you would earn a total of 125.00 from holding The Hartford Dividend or generate 3.77% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
The Hartford Dividend vs. Credit Suisse Floating
Performance |
Timeline |
Hartford Dividend |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Credit Suisse Floating |
The Hartford and Credit Suisse Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with The Hartford and Credit Suisse
The main advantage of trading using opposite The Hartford and Credit Suisse positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if The Hartford position performs unexpectedly, Credit Suisse can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Credit Suisse will offset losses from the drop in Credit Suisse's long position.The Hartford vs. Federated Emerging Market | The Hartford vs. Glg Intl Small | The Hartford vs. Tax Managed Large Cap | The Hartford vs. Qs Large Cap |
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Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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